Asked by: Rebecca Smith (Conservative - South West Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to (a) agricultural property relief and (b) business property relief on the finances of farms of 215 acres in size.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Asked by: Rebecca Smith (Conservative - South West Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate her Department has made of the number of farms that will be affected by changes to agricultural property relief and business property relief.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Asked by: Rebecca Smith (Conservative - South West Devon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will freeze fuel duty for heavy goods vehicles and coaches.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Revenue from motoring taxes and associated VAT ensures that the Government can continue to fund the vital public services and infrastructure that people and families across the UK expect.
Following the spending audit, the Chancellor has been clear that difficult decisions lie ahead on spending, welfare and tax to fix the foundations of our economy and address the £22 billion hole the government has inherited. Decisions on how to do that will be taken at the Budget in the round; the Chancellor makes decisions on tax policy at fiscal events.